Proto Labs: Strategic Positioning and Financial Strength Drive Buy Rating with $45 Price Target

Robert Wasserman, an analyst from Benchmark Co., reiterated the Buy rating on Proto Labs (PRLB – Research Report). The associated price target remains the same with $45.00.

Robert Wasserman has given his Buy rating due to a combination of factors that highlight Proto Labs’ promising financial performance and strategic positioning. The company reported better-than-expected results for the first quarter of 2025, with revenues slightly above estimates and a notable increase in network sales and average revenue per customer. This performance is supported by growth in specific segments such as CNC Machining and Sheet Metal, despite some declines in other areas like Injection Molding and 3D Printing.
Moreover, Proto Labs’ involvement in significant aerospace projects, such as the Blue Origin’s Blue Moon Mark 1 lunar cargo lander, showcases its strategic industry engagements. The company’s financial health is further underscored by its strong cash position and lack of long-term debt, enabling share repurchases and capital expenditures. Additionally, the consolidation in the additive manufacturing industry has reduced competition, potentially benefiting Proto Labs. These factors collectively support the Buy rating and the $45 price target, reflecting confidence in the company’s return to growth and positive financial outlook.